Impact Seed, a fund managed by Impact46 selected to join Draper Venture Network program
Impact Seed, a Fund based out of Riyadh, Saudi Arabia, and managed by Impact46, has been selected to join Draper Venture Network’s DVN Beta Program. Marking Impact46 to be the first Saudi Fund to join the exclusive network.
Impact46 launched its Seed fund mid-2019, led by a well-rounded team that have witnessed and contributed to the entrepreneurial ecosystem in Saudi Arabia since its early inception. The team has collective experience ranging from angel and institutional investing, to mentoring startups through local incubators and accelerators programs, and finally having their own entrepreneurial endeavours and starting their own businesses.
As a member of this network, Impact Seed Fund along with its portfolio companies gain exposure to a global entrepreneurial scene and a unique access to venture funds, expertise, and corporate connections. “Joining DVN is a natural succession of our investment thesis, we believe that the change Saudi is witnessing will inspire the next generation of founders and the Draper Network will empower them with access to global best practices, potential funding, and exit opportunities” added Abdulaziz Alomran, Partner at Impact46.
“We are thrilled to be welcoming Impact Seed to our DVN Beta program,” said Tim Draper, Founder of the Draper Venture Network. “They are a fantastic team, and a testament to the level and quality of entrepreneurial activity in Saudi Arabia and the wider region.” Gabe Turner, DVN’s Executive Director added: “We are confident that Impact Seed will be great partners for our Network. We knew the team from their involvement in our Draper University, but to see the progress they have made in building the local Saudi ecosystem has been truly impressive. The access and contacts that DVN provides will only amplify their efforts.”
Saudi Arabia saw a record amount of startup funding and deals in 2019 and continues to grow as one of MENA's thriving startup ecosystems. Find out more details on how it is getting there in our new 2019 Saudi Arabia Venture Investment Report.